Vacant Duplex with Basement
For Sale
$279,900
Pending
32 Brunswick Boulevard, Buffalo, NY 14208
Residential, Buffalo, NY
Property Size2,037 SF
Lot Size0.08 Acres
Days on Market236
Property Features for 32 Brunswick Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Basement, Bedroom 5, Bathroom 1, Bedroom 1
Appliances
GasWaterHeater
Subdivision
Holland Land Company's Su
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Jefferson to Brunswick
Standard status
Pending
APN
140200-100-260-0001-029-000
Size
2,037 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
815
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1922
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Varies, Vinyl
Building materials
Frame
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Syed J Rizvi · License #10401279412
(716) 946-2700
Added: Feb 7
Changed: Oct 1
Last Checked: Oct 1 at 10:06PM
MLS# B1661418
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant duplex contains 2,037 square feet within a two-story frame structure built in 1922. The first floor includes a living-dining combination, two bedrooms, a kitchen, and a full bathroom. Upstairs are three bedrooms, a full bathroom, and a combined living and dining area. The basement adds a bonus bedroom and half bathroom, bringing the stated total to six bedrooms and two and a half bathrooms.
The property occupies 0.0844 acres at 32 Brunswick Boulevard in Buffalo, New York. Construction features include a frame exterior, hardwood and vinyl flooring, natural gas forced-air heat, a gas water heater, public water, and a dry basement. The source information also describes the roof, foundation, and mechanical systems as solid.
The property occupies 0.0844 acres at 32 Brunswick Boulevard in Buffalo, New York. Construction features include a frame exterior, hardwood and vinyl flooring, natural gas forced-air heat, a gas water heater, public water, and a dry basement. The source information also describes the roof, foundation, and mechanical systems as solid.
Key Highlights
- 6‑bedroom, 2.5‑bathroom multifamily property
- 2,037 square feet on 0.0844 acres
- Two‑story frame construction built in 1922
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,212
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,240
$404.2K
Cap Rate 7%
$288,743
$288.7K
Cap Rate 9%
$224,578
$224.6K
Market Conditions
NOI Build-Up for 2,037 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.6K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$28.9K $14.17/SF
− OpEx
−$8.7K −$4.25/SF
NOI
$20.2K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,240
Cap Rate 7%
$288,743
Cap Rate 9%
$224,578
Alternative Uses
Best Use
Multifamily LT 5
$288.7K
$252.7K – $336.9K
NOI $20,212 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$266.0K
$232.7K – $310.3K
NOI $18,617 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$489.9K
$428.6K – $571.5K
NOI $34,290 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 14208, NY
12,088
Population
5,884
Households
2.1
Avg Household Size
33
Median Age
23%
College-Educated
85%
High-School Grad
1.2 sq mi
ZIP Area
10,073
Density / Sq Mi
$46,940
Median Household Income
$23,804
Median Earnings
$932
Median Rent
$118,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story multifamily property with separate living and dining areas, kitchens, bedrooms, bathrooms, and a finished basement area.
Where is this duplex located?
The property is located at 32 Brunswick Boulevard Buffalo, NY.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 6‑bedroom, 2.5‑bathroom multifamily property; 2,037 square feet on 0.0844 acres; Two‑story frame construction built in 1922
